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August 5: MIT Global Startup Labs in collaboration with Kathmandu University has produced nine prospective startup teams of Nepali students. The startup teams at the end of a seven-week long intense innovation bootcamp pitched their ideas and business plans to a panel of judges on Thursday, August 2. The Demo Day was organized to provide the students with an opportunity to showcase their innovations, demonstrate public speaking, and inspire startup culture in Nepal, according to the organisers.
MIT claimed that the Global Startup Labs was conducted for the first time in Nepal in collaboration of Kathmandu University (KU) and Ncell.
The participating students were chosen from among 150 students and alumni of KU. The panel of judges at the Demo Day comprised of Atulya Pandey, COO and co-founder of pagevamp.com; Aayushi KC, founder and CEO of Khalisisi; Nikita Acharya co-founder and CEO of Urban Girl; UG Cakes and UG Chocolates, and Himal Karmacharya, founder and president of Leapfrog Technology.
The best three start-up ideas chosen by the panel of judges were Sajilo Marmat Sewa followed by Kinder and Opus. Each of the three teams have been awarded with an opportunity to participate in the Micro Master Course (MMC), an online course of MIT, and also received a seed fund of Rs 500,000, Rs 300,000 and Rs 200,000 respectively from Ncell. Likewise, they have also been rewarded with space and mentorship facility at Kathmandu University School of Management (KUSOM) Incubation Center. Members of other teams have also been awarded with an opportunity to receive a certificate course from MIT EdX.
MIT said it has been conducting MIT GSL program for the last 18 years in 25 countries promoting economic development by cultivating young technology entrepreneurs. The program has been empowering technology entrepreneurs and helping to cultivate the startup ecosystem in emerging economies.
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